Cartel Damages Principles, Measurement, and Economics

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  • A groundbreaking examination of a rapidly emerging area of law – cartel damages
  • Undertakes an extensive survey and synthesis of the literature on the economics and measurement of cartel damages
  • Provides an integrated treatment of the applicable law and the ‘pragmatic approach’ to the quantification of damages of competition law damages
  • Explains the way facts and statistics are treated in the courtroom, and the constraints and requirements of the law of evidence and procedural rules of the English courts
  • Includes quick reference guides to statistics on European Cartel Decisions (1999 to 2018), Bank of England ‘base rate’ (1980-2019), and where to find key documents and information

Cartel Damages represents a comprehensive practical guide on the law, economics, and measurement of cartel damages under UK and European competition laws. It draws together the most recent research on cartels, economic analysis, empirical techniques, case law, and legislation to examine how the quantification of losses suffered by those harmed by a cartel are, and could be, applied under European and UK competition laws.

Written with the practitioner in mind, the author adopts a rigorous yet pragmatic approach to the subject. Detailed discussions of leading cases complement the treatment of the application of economic theory and empirical techniques in competition law and litigation. Three useful appendices provide the reader with quick reference guides to statistics on European Cartel Decisions (1999 to 2018), Bank of England ‘base rate’ (1980-2019), and where to find key documents and information.

This represents an essential tool for competition practitioners and academics involved or interested in cartel damages. Fully cross-referenced and tabled, Cartel Damages is an invaluable and practical guide to issues of increasing importance and relevance in competition law.

 

Table of Contents

1:Introduction
Part I: Cartels in Context
2:What is a Cartel and What Does it Do?
3:Do Cartels Overcharge?
Part II: Economics
4:Establishing a Cartel Exists
5:Economics of Overcharges
Part III: The Legal Framework
6:Elements of a Claim
7:Cartel Infringement
8:Causation and Counterfactual
9:Damages
10:Interest
Part IV: Measurement
11:Overview
12:Getting and Describing Data
13:Comparator Approaches
14:Cost-Based Approaches
15:Statistical Evidence
16:Legal Isues with Statistical Evidence
17:Simulation Models
Part V: Pass-On
18:Overview – Pass-On
19:Economics of Pass-On
20:The Law of Pass-On
21:Proving Pass-On
Part VI: Legal Process
22:Expert Evidence
23:Collective Proceedings
24:Costs, Funding, and Settlement
Appendices
1:Key and Useful Documents
2:European Cartel Decisions 1999-2018
3:Bank of England ‘Base Rate’, 1980-2019

Categories: , Product ID: 4469

Description

Hardback

Published: 09 April 2020

ISBN: 9780198855163

Author Information

Cento Veljanovski, Managing Partner, Case Associates

Dr Cento Veljanovski is Managing Partner of Case Associates and IEA Fellow in Law & Economics. He has appeared as an expert witness in competition law, commercial and damage litigation before the UK Competition Appeal Tribunal (CAT), English & Wales High Court, Scottish Court of Sessions, Irish High Court, Federal Court of Australia, New Zealand High Court, Den Haag District Court, Finnish Higher Administrative Court, Vilnius County and Regional Administrative courts, and Hong Kong Telecommunications’ (Competition Provisions) Appeals Board. These have included the leading competition damage cases of Crehan, Hendry, actions against members of the ‘international vitamins’ cartel’ (Deans/BCL, Devenish, Moy Park, Grampian/Vion) and Merricks v MasterCard. Dr Veljanovski has also held academic positions in law and economics at a number of insitutions, is the former Research Director of the Institute of Economic Affairs.

 

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